Mangal Compusolution IPO: Key Details, Dates, Price, and Expected Listing

Mangal Compusolution is all set to launch its Initial Public Offering (IPO) for subscription starting Tuesday, November 12, and closing on Thursday, November 14. The price band for the IPO is set at ₹45 per equity share, with a face value of ₹10 each. Investors can bid for a minimum of 3,000 equity shares, and in multiples of 3,000 shares thereafter.

Mangal Compusolution offers a range of IT hardware solutions, primarily focused on IT hardware rentals, aimed at meeting the growing tech demands of businesses across various sectors. With a strong presence in Maharashtra, the company derives 96.87% of its revenue from the region, although it serves clients across India.

Despite a decline in financial performance, with revenue dropping by 32.69% and a 45.21% fall in profit after tax for the year ending March 31, 2024, compared to the previous year, the company aims to raise ₹16.23 crore through the IPO. The IPO does not have any Offer for Sale (OFS) component, with the entire issue being a fresh issue of 3,606,000 equity shares.

The basis of allotment will be finalised by Monday, November 18, and refunds will be processed by Tuesday, November 19. Shares will be credited to successful allottees’ demat accounts on the same day. The shares are expected to be listed on the BSE SME on Wednesday, November 20.

In terms of market sentiment, the Grey Market Premium (GMP) for Mangal Compusolution IPO stands at ₹3, suggesting a premium of around 6.67% above the IPO price of ₹45. The strong upward trend in GMP indicates investor optimism ahead of the listing.